Summary

The UK government has approved Czech billionaire Daniel Křetínský’s £3.6bn takeover of International Distribution Services (IDS), Royal Mail’s parent company, after a national security review.

It marks the first foreign ownership in Royal Mail’s 508-year history. The government retains a “golden share” to protect the postal service’s obligations, branding, and UK-based operations.

The deal includes commitments to maintain the universal service, worker protections, and delivery performance.

While seen as a pivotal moment for Royal Mail’s future, scrutiny persists over Křetínský’s ties to Russian energy and controversial business dealings.

  • Flying Squid@lemmy.worldM
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    6 days ago

    You do know who just got elected president of the U.S., right? And his relationship with Putin?